@techreport{NBERw3482,
 title = "Search for a Theory of Money",
 author = "Nobuhiro Kiyotaki and Randall Wright",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "3482",
 year = "1990",
 month = "October",
 URL = "http://www.nber.org/papers/w3482",
 abstract = {The classical and early neoclassical economists knew that the essential function of money was its role as a medium of exchange; Recently, this idea has been formalized using search-theoretic noncooperative equilibrium models of the exchange process. The goal of this paper is to use a simple model of this class to analyze four substantive issues in monetary economics: the interaction between specialization and exchange, dual fiat currency regimes, the welfare improving role of money, and the susceptibility of monetary economies to extrinsic uncertainty.},
}